Terms of Service

• "Service" means the FirstReports web platform accessible at firstreports.in and any associated APIs.
• "User" means a registered Chartered Accountant or authorised tax professional using the Service.
• "Client Data" means trading statements, ledgers, PAN numbers, and other financial information uploaded by the User on behalf of their clients.
• "Consolidated Statement" means the tax-ready P&L summary generated by the Service from Client Data.
• "Subscription" means the paid plan that allows a User to manage more than one client.

The Service is intended exclusively for use by:

• Licensed Chartered Accountants registered with the Institute of Chartered Accountants of India (ICAI)
• Authorised tax practitioners or financial professionals acting on behalf of clients

By registering, you represent that you are at least 18 years of age, legally competent to enter into contracts under the Indian Contract Act, 1872, and professionally authorised to handle your clients' financial data.

You must provide accurate, current, and complete information during registration. You are responsible for:

• Maintaining the confidentiality of your account credentials
• All activity that occurs under your account
• Notifying us immediately at support@firstreports.in if you suspect unauthorised access

We reserve the right to suspend or terminate accounts that contain false or misleading information.

FirstReports provides tools to:

• Upload and parse equity trading P&L statements and ledgers from Indian brokers
• Automatically detect broker file formats using AI-assisted column mapping
• Generate consolidated statements with STCG, LTCG, F&O, Intraday, and Mutual Fund capital gain classification
• Export consolidated reports as Excel files

Important limitations:

• Not a tax advice tool. The Service generates reports to assist CAs in tax filing preparation. It does not constitute legal, tax, or financial advice. You are responsible for verifying the output before filing any return.
• Not a filing tool. FirstReports does not file ITRs or interact with the Income Tax portal on your behalf.
• AI-assisted parsing. The column detection step uses an AI model (Anthropic Claude) which may occasionally produce incorrect mappings. You must review parsed output for accuracy.

You agree that you will:

• Only upload files for which you have your clients' explicit consent or professional authority
• Not upload files containing data that belongs to you personally (the Service is for client management, not personal use)
• Verify all Consolidated Statements before using them for tax filings
• Comply with all applicable laws, including the Income Tax Act, 1961, SEBI regulations, and data protection laws

You agree that you will not:

• Share your account credentials with any third party
• Attempt to reverse-engineer, scrape, or copy any part of the Service
• Upload malicious files, scripts, or content intended to harm the platform
• Use the Service in any manner that violates Indian law or the rights of any third party
• Attempt to access another user's data or circumvent our security controls

You retain full ownership of all Client Data you upload to the platform. We do not claim any intellectual property rights over it.

By uploading Client Data, you grant FirstReports a limited, non-exclusive licence to store, process, and display that data solely for the purpose of providing the Service to you.

You are the Data Fiduciary under the Digital Personal Data Protection Act, 2023 for your clients' personal data. You are solely responsible for ensuring you have lawful grounds to upload such data.

7.1 Free Trial

New accounts can add one client for free, with no credit card required. The free tier is subject to fair use and may be modified at our discretion with 14 days' notice.

7.2 Paid Plans

Adding a second client and beyond requires a paid subscription. Current pricing is displayed on the pricing page. All prices are in Indian Rupees (INR) and inclusive of applicable GST.

7.3 Payments

Payments are processed by Razorpay. By making a payment, you agree to Razorpay's Terms of Service. We do not store your payment card details.

7.4 Refunds

Payments are non-refundable except where required by applicable law. If you believe you were charged in error, contact us within 7 days at support@firstreports.in.

All content, design, code, algorithms, and branding on the FirstReports platform are the exclusive intellectual property of FirstReports and are protected under the Copyright Act, 1957 and other applicable Indian laws.

You are granted a limited, non-transferable, non-exclusive licence to use the Service for its intended purpose. This licence does not permit you to copy, modify, distribute, or create derivative works from any part of the platform.

THE SERVICE IS PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT.

In particular, we do not warrant that:

• The Service will be error-free or uninterrupted
• The parsed output will be 100% accurate in all cases
• The Service meets all requirements of the Income Tax Act or SEBI regulations

You are solely responsible for verifying the accuracy of all output before using it for any tax filing, client advisory, or legal purpose.

To the maximum extent permitted by applicable Indian law, FirstReports shall not be liable for any:

• Indirect, incidental, or consequential damages
• Loss of data, profits, revenue, or business opportunities
• Errors in tax filings arising from reliance on the Service's output without independent verification
• Penalties or interest levied by tax authorities

Our total aggregate liability to you for any claim arising out of or relating to these Terms shall not exceed the amount you paid to us in the three (3) months preceding the event giving rise to the claim.

You agree to indemnify, defend, and hold harmless FirstReports and its officers, directors, employees, and agents from and against any claims, liabilities, damages, losses, or expenses (including reasonable legal fees) arising out of or in connection with:

• Your use of the Service in violation of these Terms
• Your violation of any applicable law or regulation
• Any claim by a third party (including your clients) relating to Client Data you uploaded

By You

You may close your account at any time from the account settings page. Upon closure, your data will be deleted within 30 days, except where retention is required by law.

By Us

We may suspend or terminate your account immediately if you:

• Breach these Terms
• Engage in fraudulent or abusive behaviour
• Fail to pay applicable fees

For non-urgent violations, we will provide 7 days' notice and an opportunity to remedy the breach before termination.

We reserve the right to modify, suspend, or discontinue any part of the Service at any time with reasonable notice. We will notify you of material changes to these Terms at least 14 days before they take effect via email or platform notice. Your continued use after the effective date constitutes acceptance.

These Terms are governed by and construed in accordance with the laws of India.

Any dispute arising out of or in connection with these Terms shall first be attempted to be resolved amicably through written notice to support@firstreports.in. If the dispute is not resolved within 30 days, it shall be subject to the exclusive jurisdiction of the courts of India.

• Entire Agreement. These Terms, together with our Privacy Policy, constitute the entire agreement between you and FirstReports with respect to the Service.
• Severability. If any provision of these Terms is found to be unenforceable, the remaining provisions will continue in full force.
• Waiver. Our failure to enforce any right under these Terms does not constitute a waiver of that right.
• Assignment. You may not assign your rights under these Terms without our prior written consent. We may assign our rights to a successor entity.

For any questions about these Terms, contact us at: